Reliance Defence narrows loss

Due to increase in revenue from operations, Reliance Defence and Engineering Ltd of the Anil Ambani Group has managed to reduce its net losses to ₹116 crore for the quarter ending September 30. In the year ago quarter, the net loss was ₹170 crore.The company for the quarter posted revenue from operations at ₹97 crore (₹54 crore). The rise in operational revenue for the quarter has also led increase in material cost to ₹33 crore (₹8 crore).